Inside Apple’s Secret Plan to Kill the Cash Register

All the major mobile platform companies, including Apple, are working on solutions for “contactless payments” and digital wallets — the use of a phone as a credit card. Google’s Android supports NFC, or near-field communication. Google Wallet enables payments from phones.

Everyone has been waiting for Apple to catch up. The company has a pile of patents that reference a mobile digital wallet service called “iWallet.”

One stunning fact about this prediction is that the wireless hardware has already been deployed at scale. Every major product Apple has shipped in the past year, including the iPhone and iPad, supports Bluetooth 4.0.

All Apple needs to do to make iWallet a reality is ship an app.

Another stunning fact is that Bluetooth 4.0 has a range of over 160 feet. That means participating retail stores can function like Apple Stores — without cash registers. The point of sale can be anywhere in the store. Restaurant diners can pay from the table — without the waiter being involved.